Textron (NYSE:TXT) Upgraded to Buy at Vertical Research

Vertical Research upgraded shares of Textron (NYSE:TXT) from a hold rating to a buy rating in a research report released on Monday, Marketbeat.com reports. The firm currently has $91.00 price objective on the aerospace company’s stock.

Several other brokerages also recently commented on TXT. Barclays lowered their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Robert W. Baird lowered their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. TD Cowen raised shares of Textron to a “hold” rating in a research note on Thursday, December 19th. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $98.64.

Textron Trading Up 0.6 %

Shares of NYSE TXT opened at $76.02 on Monday. The company’s 50 day simple moving average is $81.61 and its 200 day simple moving average is $85.56. Textron has a fifty-two week low of $74.89 and a fifty-two week high of $97.33. The firm has a market capitalization of $14.10 billion, a P/E ratio of 16.71, a P/E/G ratio of 1.46 and a beta of 1.27. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82.

Textron (NYSE:TXT) last issued its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the previous year, the company posted $1.49 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts predict that Textron will post 5.52 EPS for the current year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date was Friday, December 13th. Textron’s payout ratio is 1.76%.

Institutional Trading of Textron

A number of large investors have recently added to or reduced their stakes in TXT. True Wealth Design LLC acquired a new stake in Textron in the third quarter valued at $26,000. Capital Performance Advisors LLP acquired a new stake in Textron in the third quarter valued at $42,000. Truvestments Capital LLC acquired a new stake in shares of Textron during the 3rd quarter worth about $43,000. Venturi Wealth Management LLC lifted its stake in shares of Textron by 69.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock worth $50,000 after buying an additional 232 shares during the last quarter. Finally, Trust Co. of Vermont lifted its stake in shares of Textron by 94.7% during the 3rd quarter. Trust Co. of Vermont now owns 915 shares of the aerospace company’s stock worth $81,000 after buying an additional 445 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Company Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.